AUD/CAD has the 0.93 level in its crosshairs – CIBC

AUD/CAD’s rebound has averted extended sell-off. The pair may reach 0.93, economists at Scotiabank report.

Key support is seen at 0.9155/60

“AUD/CAD’s break under the base of the recent range around 0.91 marked the near-term low point for the cross. Price action subsequently turned bullish; short-term DMI signals suggest that the AUD has further room to appreciate.”

“We target near-term gains towards the 0.93 area.”

“Key AUD/CAD support is 0.9155/60.”